Shares of Sony on the New York Stock Exchange are down 95 cents, or 5.4%, to $16.69. The company said it will spend $1.3 billion to restructure its business, a higher estimate than estimated before. The company is bailing out of the personal computer business and disk storage industry. If the estimates come true, the company will have lost money in six out of the past seven years, Reuters reports, for a total loss of 1 trillion yen.

Meanwhile, the move comes just after Microsoft announced aggressive changes to its Xbox One and Xbox Live video-game platforms that make both price competitive with Sony’s PlayStation offerings.